Bangalore Gold Prices: Dec 2-8 Rates for 24K, 22K, and 18K Gold Drop by 0.3%
Gold prices in Bangalore experienced fluctuations this past week, with a 0.35% decline in both 24-carat and 22-carat rates. However, in the last two days, prices have stabilized. As of December 8, 2024, 24-carat gold was at Rs. 77,620 per 10 grams and 22-carat gold was priced at Rs. 71,150 per 10 grams. The 18-carat gold rate in Bangalore is currently at Rs. 58,220 per 10 grams.
Factors influencing gold rates include the performance of the U.S. dollar, geopolitical tensions, high demand during the wedding season in India, and the release of the November U.S. job growth report. Market analysts expect continued volatility due to upcoming economic data and the Federal Reserve meeting on December 18.
Spot gold rose 0.2% to $2,636.31 per ounce, while spot silver declined 1.1% to $31 per ounce. U.S. gold futures closed 0.4% higher at $2,659.60 per ounce. Investors are advised to stay updated on employment and inflation figures for insights into the Fed’s monetary policy direction.
